Hi there, weâre Hihome
Easy, transparent home loan options
Trying to find the right home loan options for you? Tired of annoying salespeople and having to give up your contact details every time? We sure were.
If you have 30 seconds, weâll compare 900+ loans from over 40 banks and show you four that’ll help you keep more of your hard earned money where it belongs â in your wallet. No contact details needed.Â
This won’t ding your credit file.
Discover your options
Instead of settling for your current bank, explore your options in 30 seconds. You could save a lot.
We help you pick a winner.
After the initial options, weâll go deeper and help find the most suitable loan for you.
Sit back and relax.
We help put together your application and maximise your chances of getting approved.
Who is Hihome?
Weâre a fully independent (not owned by any bank) and transparent online mortgage broker that speaks plain English. We combine smart tech and smarter people to help you find and get a home loan that works hardest for you.
We compare 900+ loans from over 40 banks, and show you the top four. Then, we talk to you, get a bit more info, and do a lot of homework to find the perfect loan for you, negotiate with the banks if possible, and apply for the loan.
Thereâs too much unnecessary complexity, jargon and plain old BS out there today. Our goal is to cut through all of that â and help you win at home loans.
What does it cost?
Using Hihome costs you nothing, because we’re paid directly from the bank if you get a loan through us.Â What we get paid varies. As an example, if you were to borrow $400,000 the lender would pay us $2,200 assuming a 0.55% commission. We believe in being fully transparent â so you can see exactly what we get paid from each bank.
Remember, using us doesn’t cost you anything extra, and you don’t pay a higher interest rate or any extra fees on the loan.
LVR, LMI, Comparison rate, interest only, conveyancing and more! When we were researching our home loan options, we kept seeing all this jargon everywhere. Everyone else seemed to know what LMI meant but weâ¦erm.. werenât so clear. We’ve created a whole page for people like us that like their answers without a side of gobbledygook.
- home loan chat
- 1. Is it more expensive for me to use you instead of going directly to the bank?
Absolutely not. By using Hihome to apply for your loan, we can often get you better rates than what you could by going directly to your bank. First, weâll show you the lowest rates from over 40 lenders, then we get some info, do lots more research, and find the one best option. Finally, weâll negotiate with the bank to get you an even better rate, if possible.
You never pay more than you would by going directly to the bank, but often end up paying a lot less - by going with a different bank, or paying a lower rate, or both! ð
- 2. What is LMI?
LMI stands for Lenderâs Mortgage Insurance. This protects the bank in case you default on your home loan. This is an additional charge, typically if your deposit is less than 20% of the purchase price.
If you want to buy a property for $500,000 and have $50,000 (10%) saved for a deposit, the bank may charge you LMI. LMI is a once-off payment, and can often be added to your loan amount.
- 3. What is LVR?
LVR stands for Loan to Value Ratio. The amount of money that a bank will lend you based on how much the property is worth. For example, an 80% LVR means the bank is willing to lend up to 80% of what the property is worth. If youâre buying a property for $500,000, an 80% LVR loan is $400,000. In this example, you would need to have $100,000 (20% of $500,000) saved up for a deposit.
Got a loan already?
Maybe we can help you get a better one which has more of what you want and less of what you donât. More flexibility, better rate, offset account, more dollars in your wallet, or all of the above? Canât hurt to explore your options.